The Wells Fargo Daily Transmission: PJM, NJ, POR/NWN/AVA/IDA/OR, DUK/NC, FE/OH, AEP/OK, OH, NWN/OR, PPL/PA, EXC, WI

Research evidence excerpt

The Wells Fargo Daily Transmission: PJM, NJ, POR/NWN/AVA/IDA/OR, DUK/NC, FE/OH, AEP/OK, OH, NWN/OR, PPL/PA, EXC, WI

Equity Research

Industry Update — June 30, 2026

Utilities and Power

The Wells Fargo Daily Transmission: PJM, NJ,

POR/NWN/AVA/IDA/OR, DUK/NC, FE/OH,

AEP/OK, OH, NWN/OR, PPL/PA, EXC, WI

Here is what we are highlighting in today's key news items from the Wells Utility/

Shahriar (Shar) Pourreza, CFAPower Team... We would point investors to IPPs (CEG, NRG, TLN, VST) as we find them

the most pertinent from a stock perspective: Equity Analyst | Wells Fargo Securities, LLC Shahriar.Pourreza@wellsfargo.com | 212-214-5422

As a reminder from WF Utilities Team - Happening Today... Constantine Lednev

Equity Analyst | Wells Fargo Securities, LLC

• PJM — Stage 4 Stakeholder Meeting and Members Committee Vote Set for Today Constantine.Lednev@wellsfargo.com | 212-214-5438

• ES - Aquarion Sale Expected to Close Alexander Calvert

Associate Equity Analyst | Wells Fargo Securities, LLC

NJ – Stakeholders file comments on utility operations models in the NJ EO1 utility Alexander.J.Calvert@wellsfargo.com | 212-214-5434

model review docket Whitney Mutalemwa

POR/NWN/AVA/IDA/OR – OPUC proposes first MYRP filing schedule under HB 3179 Associate Equity Analyst | Wells Fargo Securities, LLC Whitney.Mutalemwa@wellsfargo.com | 212-214-6428

DUK/NC – DUK cancels offshore wind lease off coast of NC Anders Myhre

FE/OH – Staff letter to Commission indicating FE rate case application as now Anders.S.Myhre@wellsfargo.com | 212-214-6409

complete Andrew Kadavy

AEP/PSO/OK – Settlement reached in base rate case Associate Equity Analyst | Wells Fargo Securities, LLC Andrew.Kadavy@wellsfargo.com | 212-214-5485

OH – DeWine urges local caution on data-center deals Marcella Petiprin